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Vision
To build an arena for global business and professional education.
Mission
Mission is to give quality education at affordable rates.


CMA (Certified Management Accountant) by IMA (Institute of Management Accountants, USA) is an advanced, globally accepted contemporary professional certificate that supports management accounting and finance professionals who drive business performance. CMA’s play an integral role in the strategic decision-making process, within the organization. A CMA professional upholds the highest level of professional and ethical standards. Many large, multi-national manufacturers and employers regard highly the CMA designation. The recent bilateral agreement that has been formed with ICWAI gives mutual recognition to CMA and ICWAI certifications. As per the MOU, CMA(USA) Certified Members are eligible for Membership of ICWA(India) as well without attempting ICWAI examination.

The highlights of CMA Qualification:

  • International professional qualification in Financial Management and Management Accounting.
  • Recognized by Institute of management Accountants (US).
  • An average of 6-9 months time to qualify the exam
  • 75% objective questions
  • Online exams
  • Average pass percentage-55%-60%
  • Salary much higher compared to non-certified professionals.
  • Eligibility to acquire ICWAI membership certification

Eligibility

  • Graduation
  • Students doing graduation can also appear for the exam.
  • Two years experience in financial management related field prior to or within 7 years of passing the exam.

Procedure

  • Be a member of IMA
  • Register for the two part exam
  • Qualify the exam
  • Satisfy the Experience Qualification

Part 1


Financial Planning, Performance and Control


A. Planning, Budgeting and Forecasting (30%) (Level C)

Planning process; budgeting concepts; annual profit plans and supporting schedules; types of budgets, including activity-based budgeting, project budgeting, flexible budgeting; top-level planning and analysis; and forecasting, including quantitative methods such as Regression analysis and learning curves.

B. Performance Management (25%) (Level C)

Factors to be analyzed for control and performance evaluation including revenues, costs, profits, and investment in assets; variance analysis based on flexible budgets and standard costs; responsibility accounting for revenue, cost, contribution and profit centers; and balanced scorecard.

C. Cost Management (25%) (Level C)

Cost concepts, flows and terminology; alternative cost objectives; cost measurement concepts; cost accumulation systems including job order costing, process costing, and activity-based costing; overhead cost allocation; operational efficiency and business process performance topics such as JIT, MRP, theory of constraints, value chain analysis, benchmarking, ABM, and continuous improvement.

D. Internal Controls (15%) (Level C)

Risk assessment; internal control environment, procedures, and standards; responsibilityand authority for internal auditing; types of audits; and assessing the adequacy of the accounting information system controls.

E. Professional Ethics (5%) (Level C)

Ethical considerations for management accounting professionals

Part 2


Financial Decision Making


A. Financial Statement Analysis (25%) (Level C)

Principal financial statements and their purposes; limitations of financial statement information; interpretation and analysis of financial statements including ratio analysis and comparative analysis; market value vs. book value; fair value accounting; international issues; major differences between IFRS and U.S. GAAP; off-balance sheet financing; Cash Flow Statement preparation, analysis, and reconciliation; and earnings quality. .

B. Corporate Finance (25%) (Level C)

Types of risk; measures of risk; portfolio management; options and futures; capital instruments for long-term financing; dividend policy; factors influencing the optimum capital structure; cost of capital; raising capital; managing and financing working capital; mergers and acquisitions; and international finance. .

C. Decision Analysis and Risk Management (25%) (Level C)

Relevant data concepts; cost-volume-profit analysis; marginal analysis; make vs. buy decisions; pricing; income tax implications for operational decision analysis; operational risk, hazard risk, financial risk, and strategic risk; and ERM. .

D. Investment Decision (20%) (Level C)

Cash flow estimates; discounted cash flow concepts; net present value; internal rate of return; non-discounting analysis techniques; income tax implications for investment decisions; ranking investment projects; risk analysis; real options; and valuation models.

E. Professional Ethics (5%) (Level C)

Ethical considerations for the organization